Her people suffer brutal persecution under the despots from Pyongyang who forcibly restrict virtually any private economic activity.
The increase in the scope and power of the government over the economy has suppressed private sector economic activity.
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They were referring to preliminary data out Tuesday, which showed private-sector economic activity in the euro zone unexpectedly ticked up in January.
That's at first glance a visible positive, but since at least two of the Big Three are already on taxpayer life support, won't our economy suffer over the long term due to the waste of human, financial and physical capital on economic activity that private investors will no longer fund?
Still, hiring by these private firms is weak, especially given how much economic activity has occurred since the end of the recession.
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The fact is that economic activity is fuelling the growth of local private firms and SOEs simultaneously with foreign multinationals expanding their operations in China.
Yet, the taxes and other exactions used to take those resources have reduced economic activity and income so much that the private sector can no longer fund current government outlays.
Rather as in the economic sphere competing private companies tend to produce wealth and activity, whereas monopoly firms have the opposite effect, so in the religious sphere competing sects generate a ferment of activity and increased levels of belief, whereas state churches produce indifference.
The point of both QE and more "unconventional" policies is to create more economic activity and prevent deflation, in an environment in which private and public debts are being painfully brought down.
What it would do is shift economic activity from the less productive government sector to the more productive private sector, thereby stimulating aggregate output and growth.
The classic example is Keynesian economics, which is based on the notion that you magically create additional economic activity by having the government spend money instead of allowing the private sector to decide how it gets spent (in an especially bizarre display of this thinking, Nancy Pelosi actually said that subsidizing unemployment was the best way to create jobs).
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